Market Notes: The Fed will announce its new policy this afternoon. I expect everything to remain the same, dovish, with low rates and continued buying… They’ve got the bottomless checkbook and the market isn’t concerned about inflation … Sorry hawks. High-flying stocks are few and far between this week, the best moves were in the …
Market Notes: The dumb money rotation is right on schedule. First meme stocks, then crypto, and now the OTC market. Bitcoin is holding up well this morning though it’s having trouble holding above $40K. A punch through $41K will confirm the breakout for me. Meme stocks have yet to die as AMC continues to consolidate. …
Market Notes: Elon Musk’s on-again-off-again relationship with bitcoin is on again. He said once bitcoin miners use 50% clean energy he’ll be on board. Bitcoin and the rest of the cryptos are up on the news. Bitcoin is at a key resistance level this morning. Will be watching for it to break through. Stocks are …
Watchlist: 6/14 Bitcoin and Musk are Back Together Read More »
Market Notes: The SPY surged higher at the open and held most of those gains until the end of the day setting a new record high. But the volume and volatility are light. Any negative news could buck the trend. For now, inflation concerns are lowish and the job market is continuing to show signs …
Market Notes: Bitcoin is showing positive signs as it bounces off the 200 day moving average. Stonks are going down… I’m watching for a rotation of risk on cash into crypto. That’s what happened in earlier in the year and history tends to repeat itself. Markets are still chopping around near record highs. But volume …
Market Notes: The meme stocks are soaring again today. Short squeezes are all the rage right now. Bitcoin is now legal tender in El Salvador. The price is stabilizing near the 200 day moving average. The broader markets are holding near all time highs but volatility is low. I’m not expecting big moves even if …
Market Notes: Bitcoin is looking more bearish taking a tumble overnight. The price is near 50% below its recent highs, it could still sink further, I’ll buy more under $20K. El Salvador is making moves to make Bitcoin legal tender while former president Trump called it a “scam.” Markets are continuing to trade near record …
Market Notes: Volume remains high on the meme stocks, AMC is in a multiday rest period but has yet to break down. A breakout could keep make it the dominant story of this week too. Bitcoin is holding in another sort of no man’s land. It’s above the 200 day moving average but below the …
Watchlist: 6/7 Meme Stocks: Can’t Stop Won’t Stop Read More »
Market Notes: Bitcoin slipped lower overnight after Elon Musk hinted he was “breaking up” with the crypto. Last we knew his personal holdings were 0.25 BTC. Bitcoin’s still maintaining its consolidation pattern above the 200 day moving average. Meme stocks are slipping lower this morning after a mixed and choppy day yesterday. No clear setups …
Market Notes: New jobless claims are due out this morning. I’m watching for the trend to continue with a new pandemic era low. The pace of layouts is about still double that of a truly healthy job market. Still, calls from right-wing politicians are going louder, they want to end employment stimulus early. The Fed …
